I have no idea of the strategy behind it, but for some reasons italy has a lot of gold despite not buying it since a few decades https://www.bancaditalia.it/compiti/riserve-portafoglio-risc...
Norway & the Netherlands moved their gold right before the Nazi invasions in the 40's, and were able to continue operating in exile as a result. Taiwan was established on the back of this tactic too, with the Chinese nationalists moving their gold out of the mainland into Taiwan when they realised they'd lose to the Communists.
If we support you and are at war with your occupier then why not?
There's a benefit to having your country's wealth being physically difficult to move.